1120 East Ave, Elyria, OH, 44035 | $605/mo Cash Flow

For Sale

Currently Rented

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Elyria at 1120 East Ave, Elyria, OH, 44035 earns $605/mo cash flow from $1,723/mo rent with a $832/mo payment. Total monthly income totals $1,723/mo, and annual cash flow totals $7,258/yr on $56,355 capital. ROI tracks 32.79% on current figures, and rental yield reads 12.16% at a $170,000 purchase. Equity gained on principal adds $1,097/yr, and 5% annual appreciation supports $46,968 over five years. Five-year ROI reaches 172.41% and total cumulative return in cash sums $97,161. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,723/mo property income instead of your personal income.

Multi Family

Built in 1900

5,662 sqft lot

$N/A/sqft

No HOA

More details about the property

Excellent turnkey investment opportunity! This fully leased triplex offers strong, consistent rental income with all three units occupied through next year. The bottom unit includes exclusive access to on-site laundry, providing added convenience for the tenant. The middle unit has been recently upgraded with brand-new flooring, new kitchen cabinets, and a new refrigerator. The top unit also features new flooring, along with a newer refrigerator and a recently installed water heater. With solid updates, low maintenance, and reliable tenants already in place, this property is perfect for investors looking for immediate cash flow. Contact us for rental details, expenses, and to schedule a showing.

Neighborhood Data

Neighborhood data shown for ZIP Code: 44035, Elyria, OH area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	30,060 (100%)
Owner Occupied HU	17,525 (58.3%)
Renter Occupied HU	10,366 (34.5%)
Vacant Housing Units	2,169 ( 7.2%)
Median Home Value	$163,574
Average Home Value	$187,977